Stocks rose on Tuesday as investors shrugged off worries about what the Federal Reserve is up to.

Many expect the Fed to reduce its $85 billion monthly bond-buying program after a two-day meeting that began on Tuesday. Wall Street is hoping for a small reduction, because the bond-buying has had the effect of keeping interest rates ultra-low and making it cheaper to borrow money.

A half-hour after trading began, the Dow Jones industrial average was up 51 points, or 0.3 percent, at 15,546.

The Standard & Poor’s 500 index rose five points, or 0.3 percent, at 1,702. The S&P 500 was seven points below its record high reached on Aug. 2.

The Nasdaq composite was up 11 points, or 0.3 percent, at 3,729.

Microsoft rose after announcing a 22 percent dividend increase and a $40 billion stock buyback program. Microsoft was up 18 cents, or 0.5 percent, to $33.10.

Outerwall, which owns the Redbox DVD kiosks, plunged $7.77, or 14 percent, to $48.20 after slashing its outlook because of weaker-than-expected demand for discs.

Stocks were down slightly overseas. The FTSE 100 in Britain fell 0.3 percent, and the German DAX and CAC-40 in France both fell slightly. The Nikkei in Japan fell almost 0.7 percent.

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